In its Notification dated 04.10.2022, the Ministry of Finance has revised the jurisdiction of Debt Recovery Tribunal and introduced Exclusive Bench for cases pertaining to default of ₹100 crore and more.
The notification released under Section 3 of the Recovery of Debts and Bankruptcy Act, 1993 and in supersession of the notifications of the Government of India, vide numbers G.S.R. 395 (E) dated the 29.05.2007 and S.O.3065 (E) dated the 26.09.2016, and all subsequent notifications relating to change of location of the existing Debts Recovery Tribunals has ascertained that DRTs at Mumbai, New Delhi and Chennai shall have the new and exclusive jurisdiction.
Read Notification @LatestLaws.com:
Picture Source :
